Adviva to expand into Europe after $8m funding injection

by Jennifer Whitehead, Brand Republic 31-Jan-06

LONDON - Online ad network Adviva Media has received a funding boost of $8m (£4.5m), with plans to expand into Europe.

The investment comes from Kennet Venture Partners, a venture capital firm focused on the technology sector, and will see Kennet managing directors Michael Elias and Javier Rojas will join Adviva's board of directors.

Adviva helps brands get their advertising online, with a network of 200 websites to which it serves more than 500m ads a month.

The company was founded in 2000 by Todd Treusdell and Phil Coote and has historically focused its business on the UK market. It is now planning to expand in Europe, initially into Germany and France to give it access to the three largest advertising markets in Europe.

Treusdell, who is CEO of Adviva, said: "We provide outstanding service to our customers and our proprietary 'lifestyle' demographic profiling technology allows our advertisers the ability to reach specific target groups, which are key to their brands."

Kennet is the first institutional investor in Adviva, which to date has been funded through reinvested profits.

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